The scarcity principle generates greater consumer interest in a product because of its limited availability, either in quantity or time.
The effectiveness of this principle is due to the belief that the most valuable things are the most difficult to obtain.
Also known as the tendency to have a greater predisposition to acquire products or services with limited availability. The limitation depends on the number of products or services available as well as the time you have to access them.
The Sales Glossary is a compendium of all the most commonly used terminology in sales strategy. Many of the concepts listed here are used when implementing a CRM system or a digital sales funnel, no matter if they are legacy systems or an online CRM. See also our blog that deals with sales techniques, marketing and sales culture.